Question

An Internal Audit is most suitable where ______________.

• A. there is no urgency to finalise the accounts on a particular date
• B. there is an urgency to finalise the accounts on a particular date
• C. system of internal check in operation is not satisfactory
• D. there are more transactions and complication

Answer 1

Answer: (D)

there are more transactions and complication

Internal Audit is part of internal control. Internal auditor has to verify each of the business transactions and is carried out to ensure that no fraud are occurring in the business.

Internal Auditor are appointed only when the volume of transaction is more and complicated.